What is life insurance: video transcript

Are you thinking about getting life insurance? Learn the basics and how you can get covered with MoneySuperMarket.  

Life insurance pays a lump sum to your loved ones when you pass away. You choose the payout, which can help cover debts, living expenses, childcare, a mortgage, or funeral costs. 

We offer two types of life insurance, level term family life insurance and decreasing term mortgage life insurance.  

A family term policy allows you to pay a fixed amount per month and the payout will remain the same throughout the duration of your policy. 

This means you get predictable payments and peace of mind, but it’s more expensive and doesn’t account for inflation.

A mortgage term policy decreases the payout over time, which makes it the ideal policy for debts like a mortgage.  

This means you pay less per month but there will be a limited payout once debts are paid. 

Choose which option works best for you and your needs. 

Consider your mortgage, debts, and family expenses.  

You may find our life insurance calculator helpful when estimating your cover.   

With MoneySuperMarket, all you need to do is give us a few details about yourself and the type of cover you’re looking for and we will scour the market from a range of the UK’s leading insurers.  

If you need further support, you can speak to one of our UK based advisors for free.  

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